By: (AP) The E.W. Scripps Co., which owns newspapers, TV stations, and cable channels such as the Food Network, expects to see higher revenues at its cable channels and newspapers in 2005, the media company said Monday.
Ad revenues at the company's fast-growing cable networks are expected to grow 25 percent to 30 percent next year, while affiliate fees are seen growing 15 percent and programming expenses are expected to grow 15 percent to 20 percent.
In a presentation to investors Monday at a media conference sponsored by Credit Suisse First Boston, Scripps executives said they also expect newspaper advertising revenues to grow 3 percent to 5 percent, excluding the Rocky Mountain News in Denver, which it operates in a joint operating agreement with The Denver Post, owned by MediaNews Group Inc.
Its newspaper group includes the Commercial Appeal in Memphis, the Knoxville (Tenn.) News Sentinel, and the Ventura County (Calif.) Star, as well as community newspapers.
Ad revenues at Scripps' television stations are expected to fall 5 percent to 8 percent without the benefit of political advertising, which accounted for $42 million in 2004.
In addition to the Food Network, Scripps also owns Home & Garden Television, the DIY Network, and Fine Living. Scripps is based in Cincinnati.
Its Class A shares were down 16 cents at $45.39 in afternoon trading on the New York Stock Exchange.
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